Public Storage (NYSE:PSA) Stock Position Trimmed by Pring Turner Capital Group Inc.

Pring Turner Capital Group Inc. cut its holdings in shares of Public Storage (NYSE:PSA) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,033 shares of the real estate investment trust’s stock after selling 159 shares during the quarter. Public Storage comprises approximately 3.6% of Pring Turner Capital Group Inc.’s portfolio, making the stock its 7th biggest holding. Pring Turner Capital Group Inc.’s holdings in Public Storage were worth $5,400,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its position in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the period. Prospera Private Wealth LLC purchased a new position in Public Storage during the third quarter worth about $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage during the third quarter worth about $38,000. Synergy Asset Management LLC purchased a new position in Public Storage during the fourth quarter worth about $38,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage in the 3rd quarter worth about $55,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Barclays cut their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $341.85.

Public Storage Price Performance

Shares of NYSE PSA opened at $302.33 on Tuesday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The business has a 50 day moving average price of $297.86 and a two-hundred day moving average price of $325.51. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $52.94 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $4.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.23 by ($0.02). Public Storage had a net margin of 40.54% and a return on equity of 34.07%. Sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is owned by insiders.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.